SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
MajorsJun 30, 2020
Swarovski Latest to Announce Job Cuts, Slashing 600 Positions
The crystal company is undergoing a restructuring as the COVID-19 pandemic sinks sales in the United States and Asia.
Swarovski introduced lab-grown diamonds in 16 colors at Paris Haute Couture Fashion Week in January. The company is cutting 600 jobs as part of its restructuring plan. (©Swarovski)
Wattens, Austria—Swarovski plans to cut 600 jobs, or about 2 percent of its workforce, as part of a restructuring plan.
"The international luxury market has been hit hard by the crisis," the company said in a statement to WWD.
It noted “a massive decline in sales” in its first quarter as demand took a nosedive in Asia and the United States.
New CEO Robert Buchbauer is looking to streamline the company, making changes to its organizational structure, including the merging of marketing and sales activities.
One-third of the cuts will take place at the company’s headquarters in Austria’s Tyrol region, with 200 jobs eliminated as part of the merger.
Swarovski said all business processes and activities are “currently being reviewed to ensure that they are in line with both the strategic realignment and economic reality.”
"The international luxury market has been hit hard by the crisis," the company said in a statement to WWD.
It noted “a massive decline in sales” in its first quarter as demand took a nosedive in Asia and the United States.
New CEO Robert Buchbauer is looking to streamline the company, making changes to its organizational structure, including the merging of marketing and sales activities.
One-third of the cuts will take place at the company’s headquarters in Austria’s Tyrol region, with 200 jobs eliminated as part of the merger.
Swarovski said all business processes and activities are “currently being reviewed to ensure that they are in line with both the strategic realignment and economic reality.”
RELATED CONTENT: Macy’s to Lay Off 3,900 Employees Amid Restructuring
Buchbauer, the great-great-grandson of company founder Daniel Swarovski, was recently appointed to the CEO position amid an executive shake-up at the company.
The changes included the appointment of fashion veteran Giovanna Battaglia Engelbert as Swarovski’s first creative director, the departure of Markus Langes-Swarovski from the executive board, and a reportedly diminished role for Nadja Swarovski.
Swarovski employs about 34,500 people worldwide and has manufacturing facilities in Austria, India, Thailand, Vietnam, Serbia and the U.S.
The changes included the appointment of fashion veteran Giovanna Battaglia Engelbert as Swarovski’s first creative director, the departure of Markus Langes-Swarovski from the executive board, and a reportedly diminished role for Nadja Swarovski.
Swarovski employs about 34,500 people worldwide and has manufacturing facilities in Austria, India, Thailand, Vietnam, Serbia and the U.S.
More on Majors
The Latest
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
SourcingJun 25, 2026
Annie Doresca, Mark Smelzer, Sara Yood Join Gem Legacy BoardThe three industry leaders bring financial, communications, and legal expertise to the nonprofit’s board of directors.
